Hyundai India Q2 net profit falls 24% to ₹1,196 crore on high commodity cost

Hyundai Motor India Ltd (HMIL) reported a 24% year-on-year (YoY) decline in standalone net profit to ₹1,196 crore for the second quarter ended September 30, 2026, against ₹1,572 crore a year earlier, as elevated commodity prices weighed on profitability.

Revenue, however, rose 19% YoY to ₹20,696 crore.

“Commodity headwinds weighed on profitability, however operating leverage, healthy mix and cost reduction initiatives helped improve EBITDA margin sequentially,” the company said in a filing.

Managing Director and CEO Tarun Garg described Q2 FY27 as a milestone quarter, with record sales and quarterly revenue crossing ₹20,000 crore for the first time since inception.

“However, elevated commodity costs weighed on the quarter’s profitability,” he said, adding that the second half would see accelerated momentum, with the launch of the Bayon marking the beginning of the company’s “golden product cycle”.

HMIL is also preparing to launch a dedicated mass-market electric vehicle in Q4 FY27. Despite macroeconomic uncertainties and cost pressures, the company remains focused on sustainable growth and profitability, Mr. Garg said.

The automaker recorded its highest-ever quarterly total sales at 219,072 units, up 15% YoY and 23% sequentially. Domestic volumes grew 19% YoY, while exports rose 4% annually and 38% quarter-on-quarter despite geopolitical challenges.